British Prime Minister Liz Truss on Wednesday that cutting taxes was “the right thing to do morally and economically,” doubling down on a series of debt-funded economic reforms that have sparked in-party fighting and market turmoil.
Still, Truss remained committed to her policies Wednesday, saying:"Not everyone will be in favor of change, but everyone will benefit from the result."
The prime minister's speech was disrupted by shouts from environmental protesters, who were escorted from the audience after Truss requested:"Let's get them removed."Backlash over tax cuts Truss's government has been plagued by controversy over the announcement last month of a string of debt-funded tax cuts — estimated to total £43 billion — which critics say disproportionately benefit the wealthy and businesses.
The prime minister herself has argued the cuts will spur growth at the top end of the economy, with knock-on effects across society., in an effort to quell financial markets after the proposals unleashed chaos on U.K. assets.Britain's Prime Minister Liz Truss has admitted she should have laid the groundwork better for recent"growth-focused" tax cuts that roiled financial markets.
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